An individual who obtains a UAE residency visa is considered a UAE tax resident and is likely to be reported under CRS regulations. The UAE has entered into double taxation treaties with more than 76 countries worldwide, and a UAE resident can take advantage of this agreement in his home country by checking taxes. The Minister of Finance UAE will issue a tax residency certificate in an application indicating your place of residence for tax purposes. As you will wonder how to start a business in Dubai you will find the best choices there.
What are the requirements?
Requirements vary depending on how you obtain a resident visa, whether through employment, corporate investment or real estate.
Why do you think residency in the UAE could be of interest to Latin American entrepreneurs?
The UAE is a whitelisted land area offering business opportunities that exist only in developed industrial and financial centers. International companies moving to the UAE are in a thriving market with excellent infrastructure.
The government encouraged business-friendly policy that has fostered foreign investment and contributed to the country’s economic development, turning it into a cosmopolitan center that welcomes diverse experts and a competitive workforce. In addition, Dubai has emerged as a popular venue for relocating high net worth individuals HNWI, building a strong alternative to the UK, Switzerland, Monaco, Singapore and similar countries.
Special economic zones, free zones and offshore companies in the UAE offer 100% ownership, profit repatriation, tax optimization and a wide network of over 80 double tax treaties. Dubai is a very strong financial center that attracts more and more business. In recent years, many multinational companies have chosen to locate their headquarters in the UAE, which has led Dubai to gain a reputation as a regional business center.
In recent times there has been an explosion in the wealth of high net worth individuals in the Latin American nations, and this has added to the prospect of growing political uncertainty. The citizens of these countries, therefore, have been exploring safer options in order to ensure the preservation of their hard-won wealth and better living conditions for their families.
Latin America is an economic powerhouse that offers a great deal of trade and investment potential to businesses in Dubai. Dubai’s trade relations with Latin America have steadily grown in recent years, doubling the number of Latin American companies registered with the Dubai Chamber of Commerce and Industry.
As our expert has stated here, Dubai is a strong and efficient tax management region, which also offers great and solid opportunities for Latin American business owners who want to protect their wealth and meet better living standards. Mundo Offshore is ready to help you establish your business and seize this excellent opportunity. By establishing your business in Dubai, you will enjoy being part of a very prosperous market.
Political and economic confrontation
The political and economic confrontation between Russia, on the one hand, and the EU and the USA, on the other, has been growing for several years, partly due to the growing importance of the Russian Federation in the international arena, and partly because the United States government has a vital need to strengthen its influence over commodity markets and markets for goods and services and replenishment of the revenue side of the budget.